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<br />STATE OF COLORADO <br />• MINED SAND RECLAMATION DlV1SION ~ ~ vF i-' ~pf'CA~4 <br />Depanment at Natural Resources ~~; :.* ~ <br />~~ ry M <br />1373 Sherman St.. Room 215 !\Q~ 2 ~ 1f19L ~~.~ ~ ;' ~~ <br />Denver. CO 80203 JJJL <br />303 966.3567 ~\r~g <br />FA x: 303 932.9106 i~IV iJiU~~: '_' <br />COAL RECLAMATION BONDUERAL: ~ :iE.;~i.:`'~ • ~~ <br />FOR USE WITH CERTIFICATE OF DEPOSIT <br />FEDERAL MINES Frw F. Barra. <br />1 DIVIS1On pircrtiror <br />Permit No. C-80-004 ~•~`f/~, (c+~lt~an.. ~~ J <br />KNOW ALL MEN BY THESE PRESENTS, That Grannd Valley Coal Company <br />of the County of ar ie in the State of Colorado as <br />Principal (hereinafter "Principal" whether one or more Principals), is held <br />hereby ifnd'firmly bound unto the State of Colorado C"the State") and the <br />United States/Office of Surface Mining Reclamation and Enforcement <OSMRE), in <br />the sum of Sixty Eight Thousand --------- <br />----------~------------------------------ DOLLARS (5 68.000.00 ) <br />for payment of which sum, well and truly to be made, the Principal hereby <br />binds itself and its successors and assigns firmly by these presents. <br />Principal has caused First National Bank of <br />• Montrose State of Colorado ("the Bank" <br />to issue its Certificate of Deposit' No. 7566 dated' <br />, 1989, payable to State of Colorado Mined Land <br />Rec amation Board and United States/OSMRE, in the amount <br />of Sixty Eight Thousand-------------flollars (368,000.00 ) <br />and has delivered it to the State, to be held by the State as Surety ("the <br />Surety") for the faithful performance by the Principal of the Principal's <br />obligations to the State and the United States/OSMRE evidenced by this bond. <br />Upon termination of the Cooperative Agreement entered into between the State <br />of Colorado and the Department of the Interior, all bonds shall revert to <br />being payable only to the United States COSMRE) to the extent that Federal <br />lands are involved. The Bank is not a party to this agreement; its <br />obligations are set forth in fits Certificate of Deposit. Nothing in this <br />instrument diminishes or qualifies the Bank's obligations under its <br />.Certificate of Deposit. <br />WHEREAS, the Principal has applied for a permit to conduct mining and <br />reclamation operations on certain lands in Garfield County, Colorado <br />which, for convenience of reference, are described as follows: <br />See Exhibit A attached hereto and by this reference made <br />a part hereof. <br />• Certificate of Deposit must be negotiable, payable to State of Colorado <br />United States/OSMRE and, unless the issuer waives the right to refuse <br />payment prior to maturity, must have a maturity date not more than one <br />after date of issue. <br />and <br />year <br />